Tracsis FY revenues expected to reach almost £50.0m

Railway and transport technology firm Tracsis said on Wednesday that full-year group revenues were expected to be nearly £50.0m.

Tracsis said annual revenues had improved from the previous year's figure of £48.0m thanks to a "strong end of year recovery" in its traffic data and events business units and "further organic growth" in its rail technology and services and data analytics/GIS divisions.

The AIM-listed group stated its rail technology and services wing continued to trade well, benefitting from high levels of recurring software revenue and a large pipeline of multi-year opportunities.

Tracsis' data, analytics, consultancy and events arm also performed well despite the impact of Covid-19 on end markets, with recovery in activity levels expected in the first quarter of its 2021-22 trading year.

Cash balances at the end of July were roughly £25.4m, up from £17.9m with no Covid deferrals due to be paid, reflecting strong cash generation within the group and providing a solid platform for continued investment.

As of 0910 BST, Tracsis shares were up 0.68% at 1.032.0p.